Even Developer Documentation

Best Practices

Welcome to Even Financial

We are excited to start our partnership with you! As one of our partners, you get immediate access to prequalify your users for personal loan offers and other financial services products in order to maximize revenue and provide a better matching experience for the end customer.

This document is intended to help you better understand our Leads API, including the logic behind the calls necessary to return all of our loan offers and our best practices for displaying loan offers to your users.

The Even Leads API allows partners to submit leads to the Even API, which returns loan offers to the partner. The returned offers include all of the information needed to be displayed to the user.

This document includes the following information:

  1. Overview of API responses
  2. Targeting Best Practices

We look forward to working with you!

 

OVERVIEW OF API RESPONSES AND LENDERS

 

Response Types

When Even Financial receives offer requests from our API, we run a server-side filtering and matching process to determine the optimal response for your request. We then request a pre-approval for the user from financial service providers, however we may respond with any of the following offers:

  • Optimal: Pre-Approved and Pre-Qualified Loan Offers – These offers are generated when a lender pre-approves or pre-qualifies a user based on information passed over the API. The response will be a specific APR, term and an loan amount. These offers generally take 10-15 seconds to be returned, which means you must call Even’s API every second in order to ensure that all pre-approved offers are being returned in the results (additional instructions on how to do this are provided in the API documentation documents). These offers generate the highest payouts, so we recommend showing these results at the top of the page.
  • Secondary: Static (Non-Pre Approval) Loan Offers Some Even lending partners do not have a pre-approval API, for them Even presents generic offers for borrowers we believe could be approved based on the information provided. Because this is not a pre-approval, the offers returned will have ranges of APRs (ex. 5.99-35.89%) and result in lower earnings per click than pre-approved offers. Although these responses are returned almost immediately, we highly recommend waiting to display these offers until after the pre-approval offers have been exhausted. If there are no pre-approvals generated, then this is the next best option to monetize users.
  • Tertiary: Special Offers – If the borrower does not qualify for any Pre-Approved or Static Loan Offers, there are additional offers for debt relief, credit repair, secured credit cards, and credit reporting/monitoring service providers. These offers are not returned in a loan offer format, rather, they as advertiser names, logos, and a short description of the offer with a redirect link. Due to limited lender coverage for fair and poor credit consumers, the best way to monetize these users are through special offers. Although these responses are returned almost immediately, we highly recommend waiting to show these offers until after the pre-approval offers have been exhausted.

Notes:

  • Most of the lenders we work with have Pre-Approval APIs, so only calling static loan offers and special offers will cause the partner to miss out on most of the lenders we have on the platform.
  • Our API will not respond with static loan offers for a lender if they have a Pre-Approval API.

 

CURRENT INVENTORY OF EVEN’S LENDER PARTNERS

We have a number of lenders on our platform that service Excellent, Good, Fair and Poor credit consumers. Lenders generally specify a particular credit range that they serve best. Therefore, it is important to have a comprehensive set of lenders (including lenders without APIs) so that you have the most coverage and generate the highest EPC possible.

Excellent/Good Credit

These lenders generally have the highest approval rates out of all of the offers, but also stricter requirements about who they approve and lend to. The typical customer that is approved by these lenders have credit around 700, annual income above $50,000 and a low debt-to-income ratio. The Even Leads API will automatically filter the leads so that offers are shown only when we believe the user will be qualified.

Fair Credit

These lenders will generate the most payout events given that they can lend to Fair credit consumers (600 and above), but there are fewer lenders and they are limited in the states they serve. As examples, Avant and Lending Club both have coverage in 40+ states, but Ascend and LendingPoint are limited to 8 and 16 states respectively. You can see which states to target for these lenders in the “Targeting Best Practices” section below.

Although there is lender coverage here, most of the revenue on Fair credit consumers will be made from Special Offers, so it’s important to have these enabled unless you definitively know that your leads will be higher quality.

Poor Credit

These leads will almost certainly fall into Special Offers and will generate the lowest earnings per click. There are a couple of lenders we work with who can lend to Poor credit consumers in certain states (these states are in the “Targeting Best Practices” section), but the approval rates are extremely low given the credit quality of these consumers.

 

Available Lenders Has API? Credit Score
Prosper Yes Excellent, Good
Lending Club Yes Excellent, Good, Fair
FreedomPlus Yes Excellent, Good
Best Egg Yes Excellent, Good
Upstart Yes Excellent, Good
Pave Yes Excellent, Good
SoFi No Excellent
Lightstream No Excellent
Avant Yes Good, Fair
Ascend Yes Good, Fair
LendingPoint Yes Good, Fair
OneMain No Fair
RISE No Fair, Poor
NetCredit No Fair

 

TARGETING BEST PRACTICES 

 

States

Our lender network covers all 50 states, but based on the limited coverage of Fair and Poor credit lenders, we recommend targeting the following states to maximize revenue and generate the most approvals from our lenders:

  • Alabama, California, Delaware, Florida, Georgia, Illinois, Missouri, New Mexico, Ohio, Oregon, South Carolina, South Dakota, Utah, Washington

 

Income

Lenders will start at around $20,000, but we see the most success when the average annual income of users is $45,000. For consumers with annual income less than $20,000, we will route these consumers to the special offers.

 

Loan Purpose

The most popular and most successful loan purposes for consumer personal loans across our network are:

  1. Debt and Credit Card Consolidation
  2. Home Improvement
  3. Large Purchase
  4. Wedding

 

Age

We recommend that partners target ages of 25 and older because people with longer credit histories have more time to establish credit and tend to have higher credit scores.

 

Loan Amount

Even’s lenders can fund loans up to $100,000, with the majority funding between $3,000 and $35,000.

We recommend that partners implement a minimum amount of $1,000 and a maximum amount of $35,000, but note that most individuals who are requesting <$3,000 are likely going to fall into the Special Offers category.

Also note that we see higher approval rates for higher loan amounts, and because some lenders pay as a percentage of the funded loan amount, higher loan amounts generally result in higher payouts. 

 

Credit

Given the diverse lender relationships across EVEN’s network, we partner with lenders that provide services to users with credit scores from 580 to 775+. Specifically, to ensure higher approval rates are generated from your leads, we recommend targeting users with minimum 640+ credit scores. The higher the credit score of the user, the likelihood the user will be preapproved from EVEN’s API lenders.